Guideline Value for Sangeetha Nagar

Sangeetha Nagar guideline value

The current guideline value of Sangeetha Nagar, located in Vadaperumbakkam village under the Redhills SRO, is Rs 1,006 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sangeetha Nagar has changed

The guideline value for Sangeetha Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 31 per sq.ft, which increased to Rs 200 per sq.ft in 2007. The value then rose to Rs 500 per sq.ft in 2012, but experienced a decrease to Rs 335 per sq.ft in 2017. Following this, the value increased to Rs 500 per sq.ft in 2023, and has now jumped to Rs 1,006 per sq.ft in the 2024 revision.

Overall, from 2003 to 2024, the guideline value has increased by 3145%. The most notable change occurred between 2023 and 2024, with a rise of 101%. The register has no figure for the year 2002 for this street.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO carrying a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Sangeetha Nagar is above this median.

• Samuvel Nagar Part-II: Rs 1,003 per sq.ft (2024)
• Samuel Nagar Part-I: Rs 1,000 per sq.ft (2024)
• Samuel Nagar Part: Rs 1,003 per sq.ft (2024)
• Samuel Nagar Extn.: Rs 1,003 per sq.ft (2024)
• Samuel Nagar: Rs 1,003 per sq.ft (2024)
• Sarabeshwara Nagar: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in Sangeetha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,006 per sq.ft, the total guideline value would be Rs 10,06,000. The stamp duty at 7% would amount to Rs 70,420, and the registration fee at 2% would be Rs 20,120, making the total fees together Rs 90,540. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sangeetha Nagar?

The Sub Registrar Office that covers Sangeetha Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vadaperumbakkam

The guideline value is a crucial factor in the registration process for property transactions in Vadaperumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sangeetha Nagar?

The current guideline value of Sangeetha Nagar is Rs 1,006 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 31 per sq.ft in 2003 to Rs 1,006 per sq.ft in 2024, marking an overall increase of 3145% over this period.

What are the stamp duty rates for property in Sangeetha Nagar?

The stamp duty rate for property transactions in Sangeetha Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

What is the role of the Sub Registrar Office?

The Sub Registrar Office is responsible for the registration of property transactions, ensuring that all legal processes are followed and the necessary fees are collected.

Where can I find more information about the guideline values in Vadaperumbakkam?

More information about the guideline values in Vadaperumbakkam can be found in the Registration Department's guideline value register (TNReginet) or through local real estate resources.